Foreign Assistance: U.S. Assistance to the West Bank and Gaza for Fiscal Years 2008 and 2009 (open access)

Foreign Assistance: U.S. Assistance to the West Bank and Gaza for Fiscal Years 2008 and 2009

Correspondence issued by the Government Accountability Office with an abstract that begins "For decades, the United States has worked toward the resolution of the Israeli-Palestinian conflict, most recently under the 2003 Roadmap for Peace, which calls for an independent Palestinian state coexisting peacefully with the State of Israel. The United States had obligated more than $2.9 billion in bilateral assistance to the West Bank and Gaza focused on further developing the Palestinian economic, social services, and civil society sectors and on strengthening the processes, governance, and security-providing capacity of Palestinian Authority (PA) institutions from fiscal years 1993 through 2009. An additional $400.4 million is planned for fiscal year 2010. Since June 2007, when Hamas-a U.S. designated terrorist organization-seized control of the Gaza Strip, the United States has directed most of its assistance to the West Bank. The U.S. Agency for International Development (USAID) is primarily responsible for administering Economic Support Fund (ESF) appropriations. Fiscal year 2008 and 2009 ESF funds support, among other things, priority needs identified in the 2007 Palestinian Reform and Development Plan, as well as humanitarian needs in Gaza following the Israeli-Hamas conflict there from December 2008 through January 2009. For fiscal years 2008 and 2009, the …
Date: May 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Export-Import Bank: Reaching New Targets for Environmentally Beneficial Exports Presents Major Challenges for Bank (open access)

Export-Import Bank: Reaching New Targets for Environmentally Beneficial Exports Presents Major Challenges for Bank

A letter report issued by the Government Accountability Office with an abstract that begins "The Export-Import Bank (Ex-Im) provides financing to support U.S. exports, and its support for environmentally beneficial exports has been of long-standing congressional interest. In fiscal year 2008, Congress directed Ex-Im to allocate 10 percent of its annual financing to renewable energy and environmentally beneficial products and services. For fiscal years 2009 and 2010, it directed Ex-Im to allocate 10 percent to renewable energy and energy efficient end-use technologies. In 2009, it directed GAO to conduct a review of Ex-Im's efforts to meet congressional directives concerning environmental exports financing. This report addresses (1) the extent of Ex-Im's financing of renewable energy, energy efficient end-use technologies, and other environmentally beneficial exports; (2) Ex-Im's definitions for, and its reporting on, these exports; and 3) the extent to which Ex-Im has followed strategic planning key practices in its planning efforts in these areas. GAO analyzed Ex-Im transaction data and planning documents and interviewed officials from Ex-Im, other U.S. agencies, state-level trade promotion agencies, environmental industry associations, and other industry experts."
Date: July 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
2010 Census: Key Efforts to Include Hard-to-Count Populations Went Generally as Planned; Improvements Could Make the Efforts More Effective for Next Census (open access)

2010 Census: Key Efforts to Include Hard-to-Count Populations Went Generally as Planned; Improvements Could Make the Efforts More Effective for Next Census

A letter report issued by the Government Accountability Office with an abstract that begins "To overcome the long-standing challenge of enumerating hard-to-count (HTC) groups such as minorities and renters, the U.S. Census Bureau (Bureau), used outreach programs, such as paid advertising, and partnered with thousands of organizations to enlist their support for the census. The Bureau also conducted Service-Based Enumeration (SBE), which was designed to count people who frequent soup kitchens or other service providers, and the Be Counted/Questionnaire Assistance Center (QAC) program, designed to count individuals who believed the census had missed them. As requested, GAO assessed how the design of these efforts compared to 2000 and the extent to which they were implemented as planned. GAO reviewed Bureau budget, planning, operational, and evaluation documents; observed enumeration efforts in 12 HTC areas; surveyed local census office managers; and interviewed Bureau officials."
Date: December 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Millennium Challenge Corporation: Summary Fact Sheets for 17 Compacts (open access)

Millennium Challenge Corporation: Summary Fact Sheets for 17 Compacts

Correspondence issued by the Government Accountability Office with an abstract that begins "The Millennium Challenge Corporation (MCC), now in its seventh year of operations, is to provide aid to developing countries that have demonstrated a commitment to ruling justly, encouraging economic freedom, and investing in people. MCC provides assistance to eligible countries through multiyear compact agreements to fund specific programs targeted at reducing poverty and stimulating economic growth. MCC has received appropriations for fiscal years 2004 through 2010 totaling about $9.5 billion and has set aside about $8.1 billion of this amount for compact assistance. As of June 2010, MCC had signed compacts with 20 countries totaling approximately $7.1 billion; of the 20 compacts, 18 compacts had entered into force, obligating a total of approximately $6.3 billion. The President has requested approximately $1.3 billion in additional funds for MCC for fiscal year 2011, of which MCC plans to use about $1.1 billion for compact assistance to countries currently eligible for compacts."
Date: July 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Homeland Security: Preliminary Observations on the Federal Protective Service's Workforce Analysis and Planning Efforts (open access)

Homeland Security: Preliminary Observations on the Federal Protective Service's Workforce Analysis and Planning Efforts

Correspondence issued by the Government Accountability Office with an abstract that begins "We have identified several workforce related challenges faced by the Federal Protective Service (FPS) since its transfer to the Department of Homeland Security (DHS) in 2003, including low morale among staff, increased attrition, and the loss of institutional knowledge. Our prior work has found that FPS continues to face challenges in identifying the optimal number of staff needed to adequately conduct its mission. In response to Congress's mandate in the House Report, which accompanied the DHS fiscal year 2009 Appropriations Act requiring GAO to evaluate the adequacy of FPS's workforce size, this report includes preliminary observations on the following questions: (1) What is the current status of FPS's efforts to determine its workforce requirements? (2) To what extent do FPS's efforts align with commonly used workforce analysis and planning practices? (3) What, if any, challenges may impede implementation of FPS's efforts?"
Date: June 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Depot Maintenance: Improved Strategic Planning Needed to Ensure That Air Force Depots Can Meet Future Maintenance Requirements (open access)

Depot Maintenance: Improved Strategic Planning Needed to Ensure That Air Force Depots Can Meet Future Maintenance Requirements

A letter report issued by the Government Accountability Office with an abstract that begins "The Air Force's maintenance depots provide critical support to ongoing operations around the world. Previously, the Department of Defense's (DOD) increased reliance on the private sector for depot maintenance support, coupled with downsizing, led to a general deterioration in the capabilities, reliability, and cost-effectiveness of the military services' depots. In March 2007, the Office of the Under Secretary of Defense for Acquisition, Technology and Logistics (OUSD (AT&L)) directed each service to submit a depot maintenance strategic plan and provided direction for the content of those plans. The Air Force issued two documents in response to this direction--a Strategy and a Master Plan. GAO used qualitative content analyses to determine the extent to which the Air Force's collective plan addresses (1) key elements of a results-oriented management framework and (2) OUSD's (AT&L) direction for the plan's content."
Date: May 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Briefing on Commercial and Department of Defense Space System Requirements and Acquisition Practices (open access)

Briefing on Commercial and Department of Defense Space System Requirements and Acquisition Practices

Correspondence issued by the Government Accountability Office with an abstract that begins "The Department of Defense (DOD) has had long-standing difficulties developing and delivering space systems on time and within budget. Some programs have been delayed by years and cost billions of dollars more than their initial estimates. Attempts to reform DOD space acquisitions in the past have sought to leverage commercial approaches or rely more on the commercial sector to meet DOD needs. These efforts have not been successful and, in some cases, have exacerbated problems, particularly with respect to oversight. In view of past challenges with adopting commercial approaches, Congress requested an examination of the following questions: (1) What are the differences between commercial and national security space system missions, requirements, and technology development? (2) What acquisition practices adopted by commercial companies could be used for national security space system acquisitions? (3) Which acquisition practices adopted by commercial companies may not be readily adaptable for national security space system acquisitions?"
Date: January 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Public Transportation: Use of Contractors is Generally Enhancing Transit Project Oversight, and FTA is Taking Actions to Address Some Stakeholder Concerns (open access)

Public Transportation: Use of Contractors is Generally Enhancing Transit Project Oversight, and FTA is Taking Actions to Address Some Stakeholder Concerns

A letter report issued by the Government Accountability Office with an abstract that begins "Many states, cities, and localities are building or planning mass transit projects to meet the nation's transportation needs. The New Starts program--administered by the U.S. Department of Transportation's (DOT) Federal Transit Administration (FTA)--is an important source of new capital investment in mass transportation, providing grants to project sponsors (e.g., state and local government authorities), for the construction of major transit facilities. FTA uses contractors--known as project management oversight contractors (PMOC) and financial management oversight contractors (FMOC)--to help oversee the planning, construction, and financing of major capital projects, including those funded under the New Starts program. This report, as mandated by law, discusses (1) how FTA uses PMOCs and FMOCs to oversee New Starts projects and how the agency procures, monitors, and evaluates the contractors' services; and (2) the benefits of FTA's oversight approach and the challenges FTA faces in conducting its oversight. GAO reviewed applicable statutes, FTA guidance, regulations, and budget data, and interviewed DOT officials, project sponsors, contractors, and industry stakeholders. GAO is not making any recommendations in this report. DOT officials generally agreed with GAO's findings and provided technical comments, which we incorporated as …
Date: September 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Commercial Aviation: Consumers Could Benefit from Better Information about Airline-Imposed Fees and Refundability of Government-Imposed Taxes and Fees (open access)

Commercial Aviation: Consumers Could Benefit from Better Information about Airline-Imposed Fees and Refundability of Government-Imposed Taxes and Fees

A letter report issued by the Government Accountability Office with an abstract that begins "To supplement fare revenues, airlines are increasingly charging fees for optional passenger services, notably for checked baggage, for which separate charges did not previously exist. While air fares are subject to a 7.5 percent excise tax that funds the Airport and Airway Trust Fund, which helps fund the Federal Aviation Administration (FAA), many new optional fees are not. As requested, this report addresses (1) the nature, relationship to cost, and disclosure of airline fees, (2) the potential impact of such fees on the Airport and Airway Trust Fund, (3) checked and mishandled baggage issues; and (4) the process, if any, for refunding government-imposed taxes and fees when passengers do not use nonrefundable tickets. To perform this work, GAO analyzed financial data; reviewed applicable laws and regulations; and interviewed airline and government officials."
Date: July 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Nuclear Waste: Actions Needed to Address Persistent Concerns with Efforts to Close Underground Radioactive Waste Tanks at DOE's Savannah River Site (open access)

Nuclear Waste: Actions Needed to Address Persistent Concerns with Efforts to Close Underground Radioactive Waste Tanks at DOE's Savannah River Site

A letter report issued by the Government Accountability Office with an abstract that begins "Decades of nuclear materials production at the Department of Energy's (DOE) Savannah River Site in South Carolina have left 37 million gallons of radioactive liquid waste in 49 underground storage tanks. In December 2008, DOE entered into a contract with Savannah River Remediation, LLC (SRR) to close, by 2017, 22 of the highest-risk tanks at a cost of $3.2 billion. GAO was asked to assess: (1) DOE's cost estimates and schedule for closing the tanks at the Savannah River Site, and (2) the primary challenges, if any, to closing the tanks and the steps DOE has taken to address them. GAO visited the Savannah River Site and reviewed tank closure documents, as well as conducted an analysis of the construction schedule of the Salt Waste Processing Facility (SWPF), which is a facility vital to successful tank closure because it will treat a large portion of the waste removed from the tanks."
Date: September 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Defense Acquisitions: Realizing Savings under Different Littoral Combat Ship Acquisition Strategies Depends on Successful Management of Risks (open access)

Defense Acquisitions: Realizing Savings under Different Littoral Combat Ship Acquisition Strategies Depends on Successful Management of Risks

Testimony issued by the Government Accountability Office with an abstract that begins "This testimony discusses the Department of the Navy's proposed dual ship acquisition strategy for the Littoral Combat Ship (LCS) program. LCS is envisioned as a vessel able to be reconfigured to meet three different mission areas: mine countermeasures, surface warfare, and antisubmarine warfare. Its design concept consists of two distinct parts--the ship itself (seaframe) and the mission package it carries and deploys. The Navy is procuring the first four ships in two different designs from shipbuilding teams led by Lockheed Martin and General Dynamics, which currently build their designs at Marinette Marine and Austal USA shipyards, respectively. The Navy's strategy for procuring LCS has evolved over the years. Prior to September 2009, the Navy planned to continue building the class using both ship designs. This strategy changed following unsuccessful contract negotiations that same year for fiscal year 2010 funded seaframes--an outcome attributable to industry proposals priced significantly above Navy expectations. In September 2009, the Navy announced that in an effort to improve affordability, it was revising the LCS program's acquisition strategy and would select one seaframe design before awarding contracts for any additional ships. Following approval of this …
Date: December 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Commercial Aviation: Better Information about Airline-Imposed Fees and the Refundability of Government-Imposed Taxes and Fees Could Benefit Consumers (open access)

Commercial Aviation: Better Information about Airline-Imposed Fees and the Refundability of Government-Imposed Taxes and Fees Could Benefit Consumers

Testimony issued by the Government Accountability Office with an abstract that begins "This testimony discusses various issues affecting airline passengers, including airline-imposed fees, mishandled baggage, and the refundability of various government-imposed taxes and fees to passengers. The U.S. passenger airline industry has been under tremendous financial pressure over the last decade, first from security threats that inhibited air travel, then from volatile fuel costs, and more recently from falling demand due to an economic recession. Only recently has air traffic begun to recover. In response to these pressures, passenger airlines have adapted their business models. In 2008, for example, many airlines introduced fees for a variety of passenger services, most notably for a first or second checked bag, for which separate charges did not previously exist. Fees represent an important source of revenues to U.S. passenger airlines, which collectively posted operating losses of $4.4 billion during calendar years 2008 and 2009. During that same period, airlines reported approximately $7.9 billion in revenues from baggage fees and reservation change and cancellation fees--the two largest sources of fee revenues. The revenues from baggage and many other fees are not subject to the 7.5 percent excise tax on amounts paid for domestic air …
Date: July 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Afghanistan Development: Poverty and Major Crop Production (GAO-10-756SP), an E-supplement to GAO-10-368 (open access)

Afghanistan Development: Poverty and Major Crop Production (GAO-10-756SP), an E-supplement to GAO-10-368

Other written product issued by the Government Accountability Office with an abstract that begins "This document is an E-supplement to GAO-10-368. This e-supplement provides additional information on regional and provincial poverty and major crops produced in Afghanistan."
Date: July 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Human Capital: Status of Actions Needed to Improve the Timely and Accurate Delivery of Compensation and Medical Benefits to Deployed Civilians (open access)

Human Capital: Status of Actions Needed to Improve the Timely and Accurate Delivery of Compensation and Medical Benefits to Deployed Civilians

Testimony issued by the Government Accountability Office with an abstract that begins "The Department of Defense (DOD) and other executive agencies increasingly deploy civilians in support of contingency operations in Iraq and Afghanistan. Prior GAO reports show that the use of deployed civilians has raised questions about the potential for differences in policies on compensation and medical benefits. When these civilians are deployed and serve side by side, differences in compensation or medical benefits may become more apparent and could adversely impact morale. This statement is based on GAO's 2009 congressionally requested report, which compared agency policies and identified any issues in policy or implementation regarding (1) compensation, (2) medical benefits, and (3) identification and tracking of deployed civilians. GAO reviewed laws, policies, and guidance; interviewed responsible officials at the Office of Personnel Management (OPM); and conducted a survey of civilians deployed from the six agencies between January 1, 2006 and April 30, 2008. GAO made ten recommendations for agencies to take actions such as reviewing compensation laws and policies, establishing medical screening requirements, and creating mechanisms to assist and track deployed civilians. Seven of the agencies--including DOD-- generally agreed with these recommendations; U.S. Agency for International Development did not. …
Date: April 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
U.S. Government Financial Statements: Fiscal Year 2009 Audit Highlights Financial Management Challenges and Unsustainable Long-Term Fiscal Path (open access)

U.S. Government Financial Statements: Fiscal Year 2009 Audit Highlights Financial Management Challenges and Unsustainable Long-Term Fiscal Path

Testimony issued by the Government Accountability Office with an abstract that begins "GAO annually audits the consolidated financial statements of the U.S. government (CFS). Congress and the President need reliable, useful, and timely financial and performance information to make sound decisions and conduct effective oversight of federal government programs and policies. The federal government began preparing the CFS 13 years ago. Over the years, certain material weaknesses in internal control over financial reporting have prevented GAO from expressing an opinion on the accrual-based consolidated financial statements. Unless these weaknesses are adequately addressed, they will, among other things, continue to (1) hamper the federal government's ability to reliably report a significant portion of its assets, liabilities, costs, and other related information; and (2) affect the federal government's ability to reliably measure the full cost as well as the financial and nonfinancial performance of certain programs and activities. This testimony presents the results of GAO's audit of the CFS for fiscal year 2009 and discusses certain of the federal government's significant near- and long-term fiscal challenges."
Date: April 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Homeland Security: Federal Protective Service's Use of Contract Guards Requires Reassessment and More Oversight (open access)

Homeland Security: Federal Protective Service's Use of Contract Guards Requires Reassessment and More Oversight

Testimony issued by the Government Accountability Office with an abstract that begins "To accomplish its mission of protecting about 9,000 federal facilities, the Federal Protective Service (FPS) currently has a budget of about $1 billion, about 1,225 full-time employees, and about 15,000 contract security guards. FPS obligated $659 million for guard services in fiscal year 2009. This testimony is based on our report issued on April 13, 2010, and discusses challenges FPS continues to face in (1) managing its guard contractors and (2) overseeing guards deployed at federal facilities, and (3) the actions FPS has taken to address these challenges. To address these objectives, GAO conducted site visits at 6 of FPS's 11 regions; interviewed FPS officials, guards, and contractors, and analyzed FPS's contract files. GAO also reviewed new contract guard program guidance issued since our July 2009 report and observed guard inspections and penetration testing done by FPS."
Date: April 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
U.S. Periods of War (open access)

U.S. Periods of War

Many wars or conflicts in U.S. history have federally designated "periods of war," dates marking their beginning and ending. This report lists the beginning and ending dates for "periods of war" found in Title 38 of the Code of Federal Regulations, dealing with the Department of Veterans Affairs (VA). It also lists and differentiates other beginning dates given in declarations of war, as well as termination of hostilities dates and armistice and ending dates given in proclamations, laws, or treaties.
Date: September 14, 2010
Creator: Torreon, Barbara Salazar
Object Type: Report
System: The UNT Digital Library
Saving Rates in the United States: Calculation and Comparison (open access)

Saving Rates in the United States: Calculation and Comparison

The amount of money saved has important economic consequences. Nationally, the amount of saving affects how much can be invested and ultimately the size of the capital stock. This report explains how national saving is measured, presents recent estimates of saving rates in the United States, and, for comparison, provides those of other major industrial countries.
Date: September 14, 2010
Creator: Elwell, Craig K.
Object Type: Report
System: The UNT Digital Library
U.S. Trade Deficit and the Impact of Changing Oil Prices (open access)

U.S. Trade Deficit and the Impact of Changing Oil Prices

This report provides an estimate of the initial impact of the changing oil prices on the nation's merchandise trade deficit.
Date: September 14, 2010
Creator: Jackson, James K.
Object Type: Report
System: The UNT Digital Library
Defense Infrastructure: Observations on the Department of the Navy's Depot Capital Investment Program (open access)

Defense Infrastructure: Observations on the Department of the Navy's Depot Capital Investment Program

Correspondence issued by the Government Accountability Office with an abstract that begins "This letter formally transmits briefing slides in response to your request. We were asked to determine to what extent the Department of the Navy complied with the requirement in Section 2476 of Title 10 of the United States Code to invest a total amount equal to not less than 6 percent of the average total combined workload funded at all the depots of the Department of the Navy for the preceding 3 fiscal years in the capital budgets of covered depots listed in the law. We presented this briefing to your staff on May 5, 2010, in which we concluded that the Department of the Navy complied with the minimum required depot capital investment. In addition, we have a related ongoing review of the condition of the public Naval shipyards, which are included under the Navy depots that receive capital investment funding."
Date: June 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Defense Acquisitions: Missile Defense Program Instability Affects Reliability of Earned Value Management Data (open access)

Defense Acquisitions: Missile Defense Program Instability Affects Reliability of Earned Value Management Data

A letter report issued by the Government Accountability Office with an abstract that begins "By law, GAO is directed to assess the annual progress the Missile Defense Agency (MDA) made in developing and fielding the Ballistic Missile Defense System (BMDS). GAO issued its latest assessment of MDA's progress covering fiscal year 2009 in February 2010. This report supplements that assessment to provide further insight into MDA's prime contractor performance for fiscal year 2009. Prime contractors track earned value management (EVM) by making comparisons that inform the program as to whether the contractor is completing work at the cost budgeted and whether the work scheduled is being completed on time. Our analysis of contractor EVM data included examining contract performance reports for 14 BMDS contracts, reviewing the latest integrated baseline reviews, performing extensive analysis of data anomalies, and conducting interviews with Defense Contract Management Agency (DCMA) officials--the independent reviewers of MDA contractor EVM systems."
Date: July 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
State Efforts to Deter Unauthorized Aliens: Legal Analysis of Arizona's S.B. 1070 (open access)

State Efforts to Deter Unauthorized Aliens: Legal Analysis of Arizona's S.B. 1070

On April 23, 2010, Arizona enacted S.B. 1070, which is designed to discourage and deter the entry or presence of aliens who lack lawful status under federal immigration law. This report discusses this piece of legislation and some of the notable preemption issues raised by its provisions. Where relevant, it examines the district court's ruling that the federal government is likely to succeed on the merits of its arguments that certain sections of S.B. 1070 are preempted by federal law. It also discusses other preemption issues potentially raised by S.B. 1070 or similar legislation, including some issues that were not expressly addressed by the district court in its preliminary ruling.
Date: September 14, 2010
Creator: Manuel, Kate M.; Garcia, Michael John & Eig, Larry M.
Object Type: Report
System: The UNT Digital Library
Intelligence Issues for Congress (open access)

Intelligence Issues for Congress

To address the challenges facing the U.S. intelligence community in the 21st century, congressional and executive branch initiatives have sought to improve coordination among the different agencies and to encourage better analysis. This report discusses these challenges and efforts the current and previous Administrations and Congresses have taken and are taking to address them. The report includes criticism of the intelligence community's efforts regarding Iraq, Iran, and other areas. Improved analysis remains a key goal in these discussions.
Date: October 14, 2010
Creator: Best, Richard A., Jr.
Object Type: Report
System: The UNT Digital Library
Mortgage Financing: Opportunities to Enhance Management and Oversight of FHA's Financial Condition (open access)

Mortgage Financing: Opportunities to Enhance Management and Oversight of FHA's Financial Condition

Correspondence issued by the Government Accountability Office with an abstract that begins "The Department of Housing and Urban Development's (HUD) Federal Housing Administration (FHA) has helped millions of families purchase homes through its single-family mortgage insurance programs. In recent years, FHA has experienced a dramatic increase in its market role due to the contraction of other mortgage market segments. FHA insures almost all of its single-family mortgages under its Mutual Mortgage Insurance Fund (Fund), which is reviewed from both an actuarial and budgetary perspective each year. On the basis of an independent actuarial review, FHA reported in November 2009 that the Fund was not meeting statutory capital reserve requirements as of the end of fiscal year 2009, as measured by the Fund's estimated capital ratio (i.e., economic value divided by the unamortized insurance-in-force). Additionally, although the Fund historically has produced budgetary receipts for the federal government, a weakening in the performance of FHA-insured loans has heightened the possibility that FHA will require additional funds to help cover its costs on insurance issued to date. In light of FHA's changing market role and financial condition, Congress asked us to examine (1) how estimates of the Fund's capital ratio have changed since …
Date: September 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library